Business News
Mondia acquires arvato mobile from arvato AG
Thursday 15. January 2009 - Mondia Limited will acquire arvato mobile, one of the leading providers of digital entertainment content, innovative concepts and interactive applications, on Jan. 1, 2009. The corresponding contracts with arvato AG were signed yesterday.
The business units arvato mobile north and arvato mobile south form arvato mobile. The company is a 360-degree manager along the entire value chain. The company works around the world on behalf of network operators, internet service providers and media companies. It provides major media operations and handles the complete content, category and royalty management for its customers on five continents. With gnab 2.0 arvato mobile posesses an innovative platform that enables convergent – content and device independent – entertainment services. arvato mobile also operates the mobile entertainment portals www.handy.de in Germany and TJ net in Italy.
This past spring, arvato AG announced that it planned to carefully review its portfolio, and develop new solutions and find suitable external partners for subsidiaries that have better growth opportunities with outside companies. “In Mondia, we have now found a buyer for arvato mobile who will systematically develop the business in coming years,” said Günter Wilmsmeier, CFO of arvato AG.
The chairman of Mondia, Dr. Amadeo Rahmann, said of the transaction: “I am really happy that we were able to successfully finish this exciting deal before the year ended. We have been involved in the business area of mobile solutions for several years, and we are now purposefully expanding this activity with the acquisition of arvato mobile. We will contribute our know-how and our experience to the business of arvato mobile to ensure that it will be successful in the future. Mondia Limited views this acquisition as an extension of its ongoing business relationship with the Bertelsmann Group.”
The companies agreed not to release the acquisition price. The transaction is expected to be concluded at the beginning of 2009.